Nhon - Hanoi Station metro line to be operational this year
The project overruns 6% to VND34.8 trillion (US$1.48 billion).
The elevated section of the Nhon – Hanoi station metro line is scheduled to be put into service in 2023, and the entire project, including the underground section, will be operational by 2027.
|The Nhon - Hanoi station metro line. Photo: Tuan Anh/The Hanoi Times
The timeframe was mentioned in a proposal by the Hanoi People's Committee to the Prime Minister to adjust the investment policy of the Hanoi Pilot Metro Project, Nhon - Hanoi Station section, which the municipal authorities requested to extend the project implementation period from 2009-2022 to 2009-2027, excluding the 24-month warranty period.
The city's authorities also asked to increase the total investment capital of the project by VND1.91 trillion (US$81.4 million) to VND34.8 trillion (US$1.48 billion).
The investment capital structure will now consist of ODA loans worth VND24.8 trillion ($1.05 billion), including loans from the Asian Development Bank (ADB), the French Development Agency (AFD), the European Investment Bank (EIB), the French government, and capital from the Hanoi budget of VND10.04 trillion ($428 million).
The Hanoi People's Committee has expressed concern that some contract packages cannot be extended or settled due to incomplete investment policies. Nevertheless, contractors are urged to continue working on the project to ensure that the elevated section can be operational by 2023.
The city's leaders have asked the Prime Minister for approval to continue implementing the project and adjust investment policies on the fly not to disrupt its progress.
Hanoi has identified several factors contributing to the project's delay. These include the slow process of clearing the site and relocating the technical infrastructure to provide clean ground for the contractors. This delay has had a significant impact on the overall progress of the project, the report said.
It also highlighted the investors' limited capacity to carry out the projects due to a lack of technical and practical knowledge in managing and operating a highly sophisticated, complex, and large-scale project, which is the first of its kind in Vietnam.
The Nhon - Hanoi Station metro project covers a total distance of 12.5 kilometers and includes eight elevated and four underground stations.
Upon completion, the metro line is expected to have a capacity of eight trains operating simultaneously at an average speed of 35 kilometers per hour.
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